Best ICOs to invest

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Frederik Nielsen - page 10

Frederik Nielsen has 233 articles published.

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked.
When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics.
I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.

What is an ICO?

ICOs have been around since 2013 and really picked up steam in 2017. But like so many other terms familiar to the crypto-community, an ICO is still an elusive term to the layperson.

ICO meaning

The acronym ICO stands for Initial Coin Offering and is essentially the blockchain version of a Kickstarter or GoFundMe campaign. It’s an excellent way for startups to crowdsource the funding they need to take their project to the next level.

How do ICOs work?

An ICO is in some ways similar to an IPO, which is an Initial Public Offering a business runs when it goes on the stock market. The main difference between an ICO and an IPO, however, is that investors in an ICO do not own shares in the company they invest in.

Instead, investors receive some cryptocurrency tokens proportionate to their investment. The hope is that the business project running the ICO will be a success and that the value of the tokens will sky-rocket as a result.

What happens after an ICO?

Once the tokens have become valuable, they can get listed on international cryptocurrency exchanges alongside all the big boys like Bitcoin and Ethereum.

Ethereum, by the way, started as an ICO (they raised $18 million in 2014 by selling 50 million Ether tokens), as did Ripple, Stellar, and some other now-prominent cryptocurrency tokens.

ICOs explained

2017 saw over 342 different tokens being released as part of ICOs that raised over $5.4 billion worth of funding for their projects. All that funding meant that ICOs overtook traditional venture capital funding as the preferred method of fundraising for blockchain companies.

That doesn’t mean it’s all peaches and cream, however. A study by Boston College found that more than half of all projects funded by ICOs failed within four months of being launched.

Are ICOs more likely to fail than other projects?

Well, no. Most startup businesses fail — that’s just a fact of life. ICOs are no more likely to fail than any other kind of business because ICOs are funding, well, businesses.

What makes an ICO become a success is the same things that many any other project a success. Is the project run by a competent team? Is it a good product or service? Will it satisfy the needs of its target market?

These are the aspects of an ICO you should look for if you’re considering investing — and the aspects you should work on if you’re considering launching your own ICO.

Benefits of an ICO

ICOs provide entrepreneurs in the blockchain space with a quick and efficient source of funding. Moreover, they retain full ownership of their company, compared with selling shares through an IPO. Investors have the opportunity to fund exciting and innovative projects on the cutting edge of technological development.

Risks of an ICO

ICOs can, like any other business, fail — and that means everyone loses their money. In that way, ICOs are no different from securing funding via venture capital firms. ICO investors don’t enjoy the same regulatory protection they would if they had invested in a more traditional way. Regulations will soon become more evident as more governments work out the kinks.

What is CEX.IO?

The CEX.IO cryptocurrency exchange was launched in London back in 2013 and doubled as cloud mining service until 2015. The exchange is one of the most popular ones today, which in part is due to its simplicity and ease-of-use. If you’re a beginner, then CEX.IO offers you an easy learning curve. If you’re a seasoned trader or institution, you won’t be disappointed either — CEX.IO has a fully customizable multi-level account system for you to dig into.

How to get started on CEX.IO

Go to the CEX.IO website and enter your name, email, password, and phone number to set up your account. This process also takes care of your two-factor authentication, so you’re secure.

How to set up payment on CEX.IO

CEX.IO is one of the few exchanges that allows you to use credit and debit cards as a method of payment. You’ll be asked to take a selfie with your payment card to verify your identity and card details. Verifying your card details can take up to 48 hours, after which you’re ready to start trading. You also have the option to make a simple bank transfer instead.

Fees on CEX.IO

Credit card deposits into your account incur a fee of 3.5% + $0.25. CEX.IO charges a flat rate of $10 for bank transfers. Which option is the cheaper one depends on the amount you’re transferring. CEX.IO also has a 7% service charge on all purchases made directly from them. Trading on the different markets incurs different fees. Some of the fees are as low as 0.2%, so it can pay off to shop around.

Transaction limits on CEX.IO

There are some limits you should be aware of when trading on CEX.IO. Te limits placed on you depends on the type of account you have.

Basic accounts require you to provide a copy of a government-issued ID, and lets you buy Bitcoin and Ethereum tokens worth $500 in one day, and a maximum of $2,000 per month.

Verified accounts require you to provide a government-issued ID as well as proof of residence, and will raise the limit to $10,000 per day and $100,000 per month.

Verified Plus and Corporate accounts have no limitations but require much more information to be submitted to verify the identity of you or your business.

Making withdrawals on CEX.IO

One of the key features on the CEX.IO exchange is the option to withdraw funds directly to your payment card. Although this is a practical feature, it does have some limits and incur some extra charges. You can withdraw €2,000 per day to your payment card, and maximum €50,000 per month. Withdrawals are charged a flat rate of $3.80 for Visa cards. MasterCard withdrawals are charged an extra 1.2% on top of the flat rate. Finally, it’s also possible to withdraw funds to your bank account. Bank withdrawals costs a flat rate of $50 per transfer. You can save a lot of money on fees by using Crypto Capital, which is a blockchain-based banking service. Crypto Capital reduces the withdrawal fee to 1%.

Want to learn more about the different cryptocurrency exchanges? Read our ultimate guide HERE.

The Ultimate Guide To Cryptocurrency Exchanges

What is a cryptocurrency exchange? If you’re reading this, chances are you’ve thought about getting into cryptocurrency trading — or at least are curious about it. Cryptocurrency exchanges are the go-to places for buying and selling cryptocurrency tokens.

We’ve written about quite a few of the exchanges, and have put together this guide so you can easily find the information you’re looking for. Below you will find articles giving you a brief overview of the various exchanges, as well as some in-depth guides to help you get started trading.

NOTE: This guide will be updated on a regular basis, so remember to check back — we’ll be adding more exchanges as we go along.

Quick cryptocurrency exchange overviews

There are a lot of cryptocurrency exchanges out there, so keeping track of them can be difficult. We’ve put together a three-part guide that sums each exchange up in a paragraph. Check it out to get a basic understanding of each exchange.

In-depth cryptocurrency exchange guides

Once you’ve got an overview of the many cryptocurrency exchanges, it’s time to dive a little deeper. We’ve had a closer look at the exchanges and created a more in-depth guide for each of them. Check them out to see which one is right for you.

Alternative cryptocurrency exchanges guides

Although most cryptocurrency trading takes place on the major international cryptocurrency exchanges, there are also some exciting alternatives in the works. Several ICOs promise to change we way we think about cryptocurrency trading. Check out some of these alternative cryptocurrency exchanges below.

What is Coinbase?

Coinbase is one of the most well-known cryptocurrency exchanges in the world. The exchange was launched in San Francisco in 2012 and was the highest funded Bitcoin startup. Only one year later, Coinbase became the largest cryptocurrency exchange in the world. Today it serves 12 million traders in 32 different countries across the globe.

How to trade on Coinbase

To create a Coinbase account, go to their website and enter your name, email, and a password. You’ll receive a confirmation email, and then Coinbase will ask you whether you want to create a business or individual account. You can enable 2-factor authentication by supplying your phone number and then set up a payment method (credit card or bank transfer) to get started. Once your payment method is set up, you can buy cryptocurrency tokens. A quick way to get started is to purchase a Coinbase Bundle.

What is a Coinbase Bundle?

The Coinbase exchange currently offers five tokens: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. You will receive a bit of all give when you buy a Coinbase Bundle. The bundle can be any amount you want and will split your investment into 75.2% Bitcoin, 6.11% Bitcoin Cash, 15.58% Ethereum, 0.78% Ethereum Classic, and 2.33% Litecoin.

Coinbase Fees and Transactions

The fees on Coinbase are between 1.49-3.99% depending on which payment method you use. Credit cards incur higher charges than bank transfers but are also faster.

You can check your transaction limits on your account screen. Different transaction limits will apply to your account depending on where you are based. Verified US residents can make transactions worth $50,000 per week, while verified European residents can hold a maximum of $30,000 in their account.

Coinbase Custody

Institutions trading on Coinbase will also be able to enjoy their pioneering custody program. It costs $100,000 to set up, and requires you to hold at least $10,000,000. As you can see, this service is aimed at banks and other institutions that have large amounts of money at the disposal that they need insured.

Coinbase Shift Card and UK Bank Purchases

Two cool features of Coinbase is the Shift Card and the UK bank purchases.

The Shift Card is essentially a Visa debit card you can use to spend your Bitcoin in any US store that accepts Visa.

UK residents can link their bank accounts to Coinbase and buy cryptocurrency tokens instantly, avoiding the extra fees incurred by international bank transfers.

Coinbase Pro

Where Coinbase is for the average cryptocurrency consumer, the Pro section (formerly GDAX) is designed for the professional trader. Coinbase Pro comes automatically with your Coinbase account and will allow you to trade on a more advanced level.

Paradex Acquisition

Coinbase recently acquired another cryptocurrency exchange called Paradex, which focuses on ERC20 tokens. You will perhaps recognise the ERC20 tokens as the utility tokens found in many ICOs. Coinbase plans to integrate the option of buying ERC20 tokens once they are fully merged with Paradex.

Hope you enjoyed this short guide to Coinbase — head over to our main guide to read about more cryptocurrency exchanges!

Bitcoin and other cryptocurrencies continue their relentless march forward. More and more celebrities are embracing the digital currency phenomenon, and this only helps bring crypto-assets and blockchain technology out into the mainstream. Bitcoin is at the same time experiencing the lowest level of volatility since the dramatic rise and fall of the digital token back in December 2017. Experts believe that this is a sign of the market maturing.

Hip Hop Embraces Cryptocurrency

Hip-hop artists have begun to embrace the cryptocurrency phenomenon, Bitcoinist reports. Florida-based hip-hop band !MAYDAY! mentioned cryptocurrency in their song ‘Bitcoin Beezy’ from a few years ago. Since then. More and more hip-hop artists have come out as cryptocurrency enthusiasts. Snoop Dogg performed at Ripple’s company party earlier this year, and Eminem mentioned Bitcoin on his latest album ‘Kamikaze.’ The latest rappers to show Bitcoin some love is Soulja Boy, who is perhaps most famous for his decade-old hit ‘Crank That.’ Although the digital token is largely absent from most of the album, it does have an entire song dedicated to. The song is aptly titled ‘Bitcoin,’ and Soulja Boy goes over his daily routine of checking his funds online in the morning — something most cryptocurrency traders will be able to relate to. The rapper also names drops payment apps PayPal and Cash App, which he uses for managing his crypto-trades. Bitcoin is not the only digital currency that gets a mention on the song, however. Litecoin is also featured in the lyrics, and Soulja Boy has many more plans for digital entrepreneurship by the sounds of it.

The Beginning of A New Phase for Bitcoin?

If you search for ‘Bitcoin’ in Google News, you will find that half the stories revolve around Bitcoin’s price fluctuation. Every day there is another so-called ‘expert’ who is predicting either an immediate surge or a crash. While these predictions probably make good headlines, those of us who follow cryptocurrency on a regular basis can largely dismiss them. This point was recently made by Nigel Green, the founder of the DeVere Group in an interview with Bloomberg. The fact is that Bitcoin’s volatility is at the lowest level it has been since December 2017. With only a few more months of 2018 left to go, it will be interesting to see if this holds up. Green opines that this is a sign of the market for Bitcoin starting to mature.

The cryptocurrency has been around for a decade this month, and as it becomes more mainstream, volatility is bound to go down. Green is not alone: Mike McGlone from Bloomberg Intelligence concurs. McGlone mentions that volatility and trading volume goes hand in hand. A third voice, coming from Naeem Aslam from TF Global Markets UK, is skeptical, however.

Aslam says that low volume and volatility is a sign of market capitulation. As the year 2018 is coming to a close it will be interesting to see who is right — the optimists, the pessimists, or the realists?

What do you think the future holds for Bitcoin? Will we see a similar surge and crash towards the end of 2018 as we did last year? Leave your thoughts in the comments below!

No Fork In The Road For Bitcoin Expansion

Cointelegraph reports that the developer behind Bitcoin’s protocol has found a way to expand for upscaling the Bitcoin network without a hard fork. Bitcoin’s expansion has been underway for some time, and the protocol developer Mark Friedenbach believes a soft fork Proof-of-Work solution will be a better alternative. If successful, the move could mean a 3584x increase in transaction volume for the Bitcoin network. Friedenbach has also announced that he will introduce the concept of “sharding” to cull any censorship attempts. Sharding is the practice of dividing the workload of on-chain transactions between several different computers on the network. Bitcoin is not the first network to introduce sharding, however. Ethereum announced their intention to engage in the practice back in April this year. If the attempt to scale Bitcoin’s system is successful, it would mean taking another step towards competing with the big credit card companies like Visa and Mastercard.

BitMEX Hires Industry Watchdog To Help Regulate Bitcoin Exchange

SCMP reports that BitMEX has hired a Hong Kong watchdog to assist with Bitcoin regulations. One of the big scare stories of 2018 has been that of cryptocurrency exchanges falling victim to hackers. The incidents have made many people apprehensive of trading and investing in digital assets for fear of falling prey to criminals. Now, however, BitMEX, one of the largest Bitcoin exchanges in the world, has launched a brand new partnership with a regulatory watchdog to combat any future attempts at hacking. The new COO Angela Kwan is a certified accountant and has worked for the Hong Kong Exchanges and Clearing as well as the Securities and Futures Commission. Kwan cites the lack of a regulatory framework for the cryptocurrency industry in Hong Kong as one of the main issues she aims to tackle in her new role. The appointment of Kwan is good news, not only for traders in Hong Kong but the international cryptocurrency community. The more countries that take preemptive steps to regulate their businesses, the faster we will see a reduction in hacking scandals and other criminal activities.

Most Bitcoin Investors Are Young, Rich, and Male

CNN Business recently published the results of a survey that examined the social demographics of the American Bitcoin industry. The study, conducted by Clovr, asked 1,000 American cryptocurrency owners and traders about their background. The results showed that the overwhelming majority of Bitcoin enthusiasts are young men who live in suburban areas and are relatively well off. The average income of the respondents was $75,000 per year, which could indicate that the industry is most attractive to those with money saved for a rainy day. One of the co-founders of Clovr, Mike Cribari, had a few suggestions as to why that might be the case. Bitcoin and cryptocurrency is still a relatively new concept to most people, which leads to a lot of uncertainty around investing. Secondly, the frequents peaks and valleys of the market poses a risk to those who cannot afford to lose money. However, once Bitcoin becomes more mainstream and can be used to buy groceries and other products, then this trend is predicted to change.

More Bitcoin ATMs Spotted in Utah

Bitcoin ATMs have been around for a while, but they are nowhere near the level of regular ATMs. That could very well change soon, as the state of Utah ramps up the number of ATMs available to Bitcoin users.

The U.S. is currently leading the way when it comes to Bitcoin ATMs — 2259 of the world’s 3824 Bitcoin ATMs are in the United States. Canada is the country with the next-largest number of Bitcoin ATMs (669), followed by Austria (241), and the U.K. (204).

Utah only has 12 Bitcoin ATMs in the state, and a company by the name of CoinCloud owns 11 of them. CoinCloud’s CEO Christ McAlary launched his first Bitcoin ATM in Utah back in 2015, and it has been a success ever since. McAlary cites the many Millennials and startup companies in Salt Lake City as one of the driving factors.

But Utah is by no means CoinCloud’s only site of operations. The Las Vegas-based company is active in 22 states and has big plans to expand. Although the United States is the stronghold for Bitcoin ATMs, a recent report revealed that Greece is also growing its number of Bitcoin ATMs.

Bitcoin ATMs Rising In London

Meanwhile, in the United Kingdom, an entrepreneur by the name of Landry Ntahe also has big plans to expand his Bitcoin ATM empire. Like CoinCloud, Ntahe set up his first Bitcoin ATM in 2015. It required him to learn how to program the machine, and then convince someone to have it on their business premises.

Ntahe made friends with the owner of a convenience store in Enfield, London. Coincidentally, Enfield is also the place the first ATM opened in London back in 1967. Today Ntahe’s company BCB ATM has 60 Bitcoin ATMs spread across London, Manchester, Brighton, Liverpool, and other major U.K. cities. The plan is to open 3,000 Bitcoin ATMs across Europe by the year 2023.

Part of the success BCB ATM has experienced is due to the versatility of Ntahe’s machines. His ATMs are the only ones currently allowing users to buy, sell and trade tokens, as well as allowing shop owners to accept Bitcoin payments.

Chinese Tech Magazine Accepts Bitcoin Payments

The government of China has been anything but gentle when it comes to ICOs, cryptocurrency, and blockchain projects in general. Crypto-mining is strictly prohibited, as is crowdfunding with ICOs, and trading on cryptocurrency exchanges.

Although the Chinese government is not hostile to the idea of blockchain technology, it has expressed interest in keeping the popular phenomenon on a tight leash by effectively imposing a state monopoly on blockchain projects.

Now, however, the oldest media outlet in China has decided to accept Bitcoin payments as a social experiment to demonstrate how practical cryptocurrency is. Subscribers to the Beijing Sci-Tech Report are now able to pay for their subscription by sending Bitcoin tokens to a wallet address provided to them by the publication.

An annual subscription to their ‘Tech Life’ magazine comes out to 0.01 BTC or $65. Owning and investing in cryptocurrency is not explicitly illegal in China, and moves like the one made by Beijing Sci-Tech Report will contribute to the continued popularity of Bitcoin.

Amazon, for example, is working in migrating their cloud services as well as their supply chain management to the blockchain.

Walmart is working on a food safety blockchain project, and will already be implemented in less than a year — September 2019.

Microsoft is working on similarly providing BaaS (Blockchain-as-a-Service) to their SaaS (Software-as-a-Service). They are no strangers to blockchain technology, however. Microsoft was already in 2015 utilizing the Ethereum network for its Azure cloud solution.

Like Microsoft, both IBM and Oracle are considering blockchain solutions to complement their existing portfolio. IBM has already entered a five-year contract with the Australian government, which will see the tech giant provide blockchain-based security and automation solutions.

Regardless of whether or not Bitcoin holders are entering a bull or a bear market, there is no sign of blockchain technology going away anytime soon. Quite the opposite.

The Lightning Network could speed up Bitcoin transactions

One of the reasons that companies like Visa and Mastercard are not yet considering adopting blockchain technology is the low transaction volumes. Bitcoin and other favorite cryptocurrency tokens are not however at the level of the major credit card companies.

The Lightning Network has emerged as a potential solution to this problem. The concept is to create a pre-blockchain on top of Bitcoin’s actual blockchain, which will facilitate much faster transactions. This means that purchases made through the Lightning Network are not registered on Bitcoin’s blockchain until the channel has been closed.

So what is a channel? To make a payment through the Lightning Network, two people can use a common Bitcoin address to make unlimited transactions between each other. This address is referred to as a channel and can be used to make small regular payments to each other. When no more trades are needed, the channel can be closed, and the transactions will be recorded on Bitcoin’s blockchain.

Bitcoin could see more mainstream use with CoinGate

The project has received backing from Jack Dorset, the founder of Twitter and Square. It has also received support from a payment processing company called CoinGate, which will now help facilitate Lightning Network transactions. This means users will have the option to pay with Bitcoin when using sites like Mmoga.com, Bitlaunch, Livejasmin, and Manyvids.

A Spanish hardware hacker by the name of Ricardo Reis has also demonstrated how the Lightning Network can enable vending machines to accept Bitcoin payments. In a video released by Reis, he shows how he purchases a bottle of Coke from a modified vending machine.

This is great news for Bitcoin. The more everyday uses there are for Bitcoin, the more it will increase in popularity. It’s difficult to see how Bitcoin will lose its value as long as these developments are happening all around us.

Bitcoin expected to build momentum in Q4

Cryptocurrency analysts are speculating on the future of Bitcoin as we enter the fourth quarter and the year is drawing to a close. Many voices have noted that Bitcoin could see an exponential rise towards the end of the year if the trend of 2017 is anything to go by. Whilst Bitcoin has recently seen an unprecedented period of calm and stability, analysts predict that there is a bull market on the horizon. Some are worried that this will lead to a similar rise and fall as seen last year. Although it’s been almost a year since Bitcoin’s rise to, and subsequent fall from, an all-time high, cryptocurrency experts just can’t seem to let go of this event. Fortunately, their predictions have so far been anything but reliable, so for the time being it’s safe to say that Bitcoin will maintain its position as the leading cryptocurrency in terms of market cap.

Bitcoin watch and an art exhibition to celebrate the anniversary of Bitcoin

The Swiss luxury watch manufacturer Hublot announced on September 19th that they would release a new watch called Big Bang Blockchain. The release is meant to coincide with the 10th anniversary of Bitcoin. Interested buyers will have to sign up to a dedicated website in order to get their hands on the new watch. The payments for the watch will be handled with Hublot’s new partner Octagon Strategy Limited. Hublot is not the only brand celebrating the anniversary of Bitcoin, however. An art exhibition called Bitcoin Art (R)evolution will be put on by a Parisian gallery to create more awareness around cryptocurrency. The exhibition will also allow visitors to purchase items in exchange for the cryptocurrency. Payments aren’t limited to Bitcoin, however, but can also be made with Monero, Litecoin, and Ethereum.

BitGo to release $1 trillion Bitcoin wallet

The security provider BitGo has for a long time been at the forefront of cryptocurrency wallets. Their wallets could contain $10 million worth of cryptocurrency tokens back in 2013. Two years later, that figure rose to $100 million. Two years after that, BitGo’s wallets could hold tokens worth almost $1 billion. Although the technology to contain more tokens is available, the stakes involved in storing so much money in one place continues to rise. This hasn’t stopped BitGo for setting their sights on the $1 trillion mark, however. The challenge for the security firm is to ensure that the money will be difficult to get to in case of the owner being threatened by a criminal.

Samourai wallet won’t display fiat value of Bitcoin

The company behind the popular cryptocurrency wallet has announced that future iterations will no longer display the value of cryptocurrency in fiat money. Users are currently able to view their balances in US dollars, but Samourai believes it’s time to end that. An official statement from the manufacturer says that “users will never be ready” to conduct transactions in Bitcoin unless they’re more or less forced to do so. They cite the familiarity of thinking in terms of fiat money, whilst the actual transactions are part of the cryptocurrency economy and not the traditional economy.

It has been another great 24 hours for Bitcoin, and other top cryptocurrency tokens as the market continue to bounce back. Check out the latest news below!

Bitcoin and Ripple are gaining ground

The price of all the main cryptocurrency tokens has gone up in the past 24 hours. Bitcoin has increased by 2% and is now trading at more than $6,500 per BTC. At the same time, Ethereum has gone up by 5% and is currently being sold for $220. Ripple clocks in at third place, rising a staggering 16.5% to a value of $0.53. Seems low? Don’t be so sure. Ripple has overtaken Ethereum regarding market cap twice in the past week. The cryptocurrency market is all in all doing pretty well at present. The total market cap is at $217 million, and over two thousand different tokens are being traded on the international exchanges.

Bitcoin is now a word in Scrabble

Yesterday, we covered how Merriam-Webster has added Bitcoin to the latest edition of its dictionary. This means that players of Scrabble can now use the word while playing the Hasbro game, and it’ll earn them nine points. The addition of Bitcoin to the dictionary is significant because it’s another step towards public awareness and acceptance. Among the other words added to the dictionary were “twerk” and “emoji.” This could indicate that the phrase Bitcoin is on par with these terms, both of which are arguably more commonly known. We will undoubtedly see a rise in token value and investment as the general awareness of cryptocurrencies spreads.

New Bitcoin startup backed by Goldman Sachs and Google

Marwan Forzely is the man behind Western Union and has a knack for creating shortcuts when it comes to money transfers. His new venture Veem will be utilizing Bitcoin to cut out the middle man — meaning the banks. The experiment is backed by investment giants like Goldman Sachs, Silicon Valley Bank, Pantera Capital, and Google Ventures. Users of Veem will be able to use Bitcoin to make direct transfers from their bank account to a vendor or supplier. The fact that Bitcoin has risen exponentially in value since the first investment round has only strengthened the project. When Forzely started, Veem Bitcoin was trading at $300 compared to its current value of $6,500.

Bitcoin to become a multi-network token

There is no doubt that Bitcoin maintains the lead regarding market cap, but Ethereum has proven to have much more utility because of the way its network is structured. Countless ICOs have been made possible with the help of the Ethereum network. This is because Ethereum is a multi-network token. It utilizes a series of side chains, in addition to its main blockchain, to facilitate other developers using them. Bitcoin has been working on expanding its network to have the same capacity since 2014. It has taken up until now, however, to finalize the plans and put them into action. It will be interesting to see if Bitcoin will outcompete Ethereum when it comes to working with new ICOs. You can read a full description of the project here.